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Free TV networks push for anti-siphoning laws to include streaming services

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Original article by Parker McKenzie
The New Daily – Page: Online : 14-May-24

Australia’s free-to-air networks have joined forces to launch the ‘Free for Everyone’ advertising campaign. The networks are urging the federal government to update the nation’s anti-siphoning laws to specifically include streaming services. They argue that the existing laws only guarantee that major sporting events are broadcast on linear TV rather than the streaming platforms of FTA networks, and at present there is nothing to prevent companies such as Netflix from buying the exclusive digital broadcasting rights to flagship events. The networks note that many consumers now watch broadcast TV via the internet rather than using a traditional aerial.

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NETFLIX INCORPORATED

Network 10 is in total turmoil and may not survive as Australia’s third commercial broadcaster

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Original article by Shannon Molloy
News.com.au – Page: Online : 8-May-24

Professor Amanda Lotz from the Queensland University of Technology believes that one of Australia’s three commercial free-to-air TV networks will not survive until the end of this decade. She says the sector is in a "death spiral" and it possible that just one network will be viable in the long-term. The three networks had combined advertising revenue of $7.7bn in 2006, but this had fallen to $3.8bn in 2020-21. The Ten Network’s future in particular is uncertain, given that it may not be very appealing to potential buyers of parent company Paramount Global. Media commentator James Manning says a private equity firm seeking a "bargain buy" might be the most likely buyer of Ten.

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TEN NETWORK HOLDINGS LIMITED, PARAMOUNT GLOBAL, QUEENSLAND UNIVERSITY OF TECHNOLOGY

Iluka boss calls out China over rare earths prices

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Original article by Brad Thompson
The Australian Financial Review – Page: 18 : 8-May-24

Iluka Resources MD Tom O’Leary contends that the entire rare earths industry is unprofitable due to China’s efforts to manipulate prices in order to retain its dominance in the sector. O’Leary has told shareholders at Iluka’s AGM that no rare earths producer is making money at the current prices for minerals that are critical to the energy transition. He also alleges that Chinese state-owned entities are seeking to control rare earths production via binding offtake agreements or the acquisition of rival producers. Meanwhile, Iluka is seeking additional federal government funding for its rare earths refinery at Eneabba in Western Australia.

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ILUKA RESOURCES LIMITED – ASX ILU

Coles to expand its private label offering

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Original article by Eli Greenblat
The Australian – Page: 13 & 19 : 1-May-24

Coles Group has reported that its total sales rose by 3.4 per cent to $10.03bn in the March quarter. Its supermarket division’s sales were up 5.1 per cent to $9.07bn, with sales of private label grocery products rising by 8.8 per cent to $3.1bn. In contrast, its liquor store division’s sales fell by 1.9 per cent to $786m. Coles CEO Leah Weckert says cost-of-living pressures weighed on liquor sales during the quarter, but also help boost sales of ‘home brand’ grocery products. Weckert adds that Coles is responding to the latter trend by expanding its range of private label products, including the more premium Coles Finest range.

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COLES GROUP LIMITED – ASX COL

More staff come forward in Super Retail legal case

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Original article by Carrie LaFrenz, Ayesha de Kretser
The Australian Financial Review – Page: 15 : 30-Apr-24

Harmers Workplace Lawyers has confirmed that it is acting for four female employees at Super Retail Group who are seeking compensation over alleged governance breaches, including an undisclosed relationship between CEO Anthony Heraghty and its former head of HR, Jane Kelly. Harmers has stated that more staff have come forward to join the action after Super Retail Group disclosed the relationship in an announcement on Friday, with the company stating that it expected two employees to bring a claim for between $30 million and $50 million alleging governance failures, including the non-disclosure of the romance between Heraghty and Kelly.

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SUPER RETAIL GROUP LIMITED – ASX SUL, HARMERS WORKPLACE LAWYERS

Why Foxtel faces its streaming apocalypse

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Original article by Sam Buckingham-Jones
The Australian Financial Review – Page: 15 : 26-Apr-24

Foxtel boasted annual earnings of nearly $1bn a decade ago, when nearly one in every three households had a pay-TV subscription. However, Foxtel has been hard hit by competition from subscription video-on-demand services. Analysts expect Foxtel’s earnings to fall to about $390m in the 2026 financial year, while its own streaming platforms will lose key HBO content if Warner Bros Discovery proceeds with plans to launch its own SVOD service in Australia. Foxtel CEO Patrick Delany says the company is now essentially two separate businesses, focused on streaming and its legacy pay-TV operations. Foxtel’s 3.1 million SVOD users account for 66 per cent of its customer base, but just 23 per cent of group revenue; in contrast, its 1.5 million pay-TV customers contribute 63 per cent of revenue.

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FOXTEL MANAGEMENT PTY LTD

ABC ombudsman clears 7.30 host Sarah Ferguson of breaching impartiality rules in an interview with an IDF spokesman

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Original article by Sophie Elsworth
The Australian – Page: Online : 23-Apr-24

The ABC ombudsman Fiona Cameron has examined an interview between 7.30 host Sarah Ferguson and an Israel Defence Forces spokesman, after 52 complaints were received about the interview. Ferguson had told the spokesman that she did not accept claims that the killing of seven World Central Kitchen aid workers was a mistake, with Cameron reviewing the complaints against Ferguson against the ABC’s editorial standards for impartiality. Cameron has come out in support of Ferguson’s comments, noting Ferguson had a duty to conduct a testing interview that does not allow the interviewee "to use the occasion as a political platform".

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AUSTRALIAN BROADCASTING CORPORATION

The Future of Retail: A Roy Morgan Business Address

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Original article by Roy Morgan
Market Research Update – Page: Online : 23-Apr-24

Roy Morgan’s Retail, Social and Consumer Trends Expert Laura Demasi presents a Roy Morgan Business Address on the consumer trends shaping Retail, as sales flatten amid the ongoing cost of living crunch. The Future of Retail Business Address explores how consumers are coping in this pressured environment: who is the hardest hit, how Australians are adjusting their spending, which cohorts still have spending power, and the surprise retailers winning in this environment. The Address also outlines Roy Morgan’s forecast for annual retail sales for 2024.

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ROY MORGAN LIMITED

Lynas’ near M&A target finds backer in Hancock

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Original article by Jemima Whyte
The Australian Financial Review – Page: 12 : 10-Apr-24

US-based rare earths producer MP Materials has disclosed that its shareholders include Hancock Prospecting. The Gina Rinehart-controlled company’s 5.3 per cent stake in MP Materials is worth about $US150m, based on the company’s current share price. Hancock’s stake was disclosed after MP Materials undertook a share buyback. Hancock also holds stakes in Australian-listed companies Brazilian Rare Earths and Arafura Rare Earths. MP Materials recently held merger talks with Lynas Rare Earths, although a deal did not eventuate.

CORPORATES
MP MATERIALS CORPORATION, HANCOCK PROSPECTING PTY LTD, LYNAS RARE EARTHS LIMITED – ASX LYC, BRAZILIAN RARE EARTHS LIMITED – ASX BRE, ARAFURA RARE EARTHS LIMITED – ASX ARU

ABC and triple j revive One Night Stand music festival

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Original article by Calum Jaspan
The Age – Page: Online : 9-Apr-24

The ABC’s youth-focused radio station triple j will team up with Music Australia to relaunch the One Night Stand music festival. The event was held annually from 2004 to 2019, but it was put on hold in 2020 due to the COVID-19 pandemic. Triple j will run a competition to decide which regional town will host the one-day festival in 2024. The decision to revive One Night Stand follows the cancellation of popular music festivals such as Splendour in the Grass, Groovin the Moo and the Falls Festival.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, TRIPLE J PTY LTD, MUSIC AUSTRALIA